Brazil’s Vale scraps dividend as iron-ore price slumps

January 28, 2016

Brazilian miner Vale will recommend to its board that no dividend is paid to shareholders this year because of the slump in commodity prices, the company said on Thursday.

The world’s largest producer of iron ore has been hit hard by a dramatic fall in the price of the steelmaking raw material, with analysts predicting the company will be cash flow negative in 2016 unless it manages to curb costs and sell assets.

Brazil’s Vale scraps dividend as iron-ore price slumps

January 28, 2016

Brazilian miner Vale will recommend to its board that no dividend is paid to shareholders this year because of the slump in commodity prices, the company said on Thursday.

The world’s largest producer of iron ore has been hit hard by a dramatic fall in the price of the steelmaking raw material, with analysts predicting the company will be cash flow negative in 2016 unless it manages to curb costs and sell assets.